it is my honor to introduce senator john mccain, who needs no introduction. >> but he always appreciate it. [laughter] i thank senator enhofe for his attention tot his issue. he pointed out the devastating effect of sequestration. if it is implemented, it will cut every ship, truck, a tank, research and development across the board. the secretary of defense panetta, a man that i admire greatly, called sequestration a meat ax approach. i think it is important to note, according to one economic analysis, it costs a loss of $350 in full-time direct jobs, 650,000 indirect job losses. that is a lot of jobs. in these difficult times. secretary panetta said, "this has become a very serious threat to our national security." para chairman of the joint chiefs of staff says the same thing. in the late 1970's, after the vietnam war, the chief of staff testified before congress that we had a "hollow army," which then caused the attention of the american people and one of the reasons why ronald reagan was elected to be president of the united states, because of our rapid decline in national defense t